Wealthfront Advisers LLC Sells 166 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wealthfront Advisers LLC cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,354 shares of the company’s stock after selling 166 shares during the quarter. Wealthfront Advisers LLC’s holdings in L3Harris Technologies were worth $2,177,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LHX. Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $398,507,000. National Pension Service increased its position in shares of L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock worth $127,440,000 after purchasing an additional 179,539 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Mizuho Markets Americas LLC increased its position in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of L3Harris Technologies by 132.4% during the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after purchasing an additional 159,806 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $211.42 on Friday. The stock has a fifty day moving average price of $209.26 and a 200-day moving average price of $227.04. The company has a market cap of $39.69 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $1.20 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,862 shares of company stock worth $2,155,054 in the last ninety days. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on LHX. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Bank of America decreased their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.